PSEi declines, Converge ends lower

October 28, 2020

The Philippine Stock Exchange index (PSEi) ended lower for the second day while newly-listed Converge Information and Communications Technology Solutions lost ground on Wednesday.

The PSEi index closed at 6,377.79, down 37.29. In the broader market, however, there were 112 gainers, 89 losers and 46 unchanged.

Converge finished at P14.50, down 72 centavos. It remained the most active stock, with volume of 79,790,503 shares worth P1.156 billion.

Volume reached 1.75 billion shares worth P6.8 billion from Tuesday's 6.49 billion shares valued at P8.02 billion.

Other most active shares were SM Prime, down P1 to P32.50; BDO up 10 centavos to P92 and Ayala Corp., unchanged at P92.

The peso closed unchanged at P48.375 against the US dollar. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $534.6 million from Tuesday's $838.87 million. DMS